30, January 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

Yesterday's day was marked by a moderate strengthening of the American currency versus its main competitors. The Euro remained under pressure in the first half of the day. The negative report on orders for durable goods in the USA showed the minimum value for last 4 months.

The U.S. consumer confidence index from the Conference Board grew in January by 80.7 p. against the revised down values of 77.5 p. on December, while the growth only up to 78 p. was expected.

The consumer confidence index grew in January for a second month on a roll and reached the 5-month maximum.

The index of business confidence from the NAB in December remained at the level of November, (+6). The leading indicators index of Australia from the Conference Board grew in November by 0.2% m/m; the growth is continuing for the third month on end. The NAB is forecasting lowering of interest rates by the Reserve Bank of Australia in November, not in May as it was before.

The “bull had not forces for a higher growth and after correction the trading day ended at 1.3664.

In the UK the day before the report on GDP for the 4th quarter 2013 was published. The data came out in accordance with the expectations of market participants at the level 0.7%. “Bulls” and “bears” began a fight after the release publication, however a clear winner were not found and trades resulted at the level 1.6577.

A correction upward at the world stock markets after a few days of falling supported the demand for the USD/JPY. The weak statistics from the United States on durable goods orders spoiled slightly the positive background. However trades were concluded with a quotation growth near the resistance level 102.93.